Vietnamese Origin Calcium Carbonate Filler Under Probe For Countervailing Duty

ENA Sectors 2024-12-31 15:21:29 New Delhi, Dec 31 (KNN) The government has initiated a countervailing duty investigation into the imports of Calcium Carbonate Filler Masterbatch from Vietnam, following concerns raised by domestic manufacturers. This chemical compound, widely used in the plastic industry, has been entering the Indian market in significant quantities, prompting local producers to seek protective measures. The investigation is being conducted by the Directorate General of Trade Remedies (DGTR), an agency under India's commerce ministry, after receiving a formal petition from the Compounds and Masterbatch Manufacturers Association of India and Masterbatch Manufacturers Association. These industry groups have alleged that Vietnamese manufacturers are benefiting from various government subsidies, enabling them to export the chemical at artificially competitive prices. According to the DGTR's notification, domestic manufacturers have presented prima facie evidence of subsidisation by multiple levels of the Vietnamese government, including provincial and municipal authorities. The investigation aims to determine both the extent of subsidisation and its impact on Indian industry, with the potential outcome being the recommendation of appropriate countervailing duties to offset any unfair advantages. The probe represents another step in India's broader efforts to protect its domestic industries from unfair trade practices. The country has previously imposed similar protective measures, including both countervailing and anti-dumping duties, particularly on steel imports from countries like China. These trade defence mechanisms are specifically designed to neutralise the effect of foreign government subsidies that could potentially harm domestic manufacturers. This investigation comes amid significant trade relations between India and Vietnam within the ASEAN framework. Recent trade figures highlight the importance of this relationship, with India's exports to Vietnam reaching USD 5.47 billion in 2023-24, while imports from Vietnam amounted to USD 9.34 billion during the same fiscal period. The investigation will examine whether specific duties are necessary to ensure fair competition while maintaining the broader trading relationship between the two nations. (KNN Bureau) 40453 https://knnindia.co.in/news/newsdetails/sectors/vietnamese-origin-calcium-carbonate-filler-under-probe-for-countervailing-duty 2024-12-31 15:21:29 knnindia.co.in Vietnamese Origin Calcium Carbonate Filler Under Probe For Countervailing Duty